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How to Read Market Data? A Glossary of Key Terms and Metrics on the REDD Platform

This glossary defines terms and metrics used on our platform in the Market Overview and Analysis modules. Here you will find explanations of how each metric is calculated, which will facilitate data interpretation.

• Total stock: total area of existing buildings.
• Under construction: total area of projects under construction, refurbishment or redevelopment.
• Under construction – pre-let: portion of under construction building area pre-leased before completion.
• Under construction – speculative: portion of under construction building area not secured by lease agreements.
• Supply planned: total area of buildings announced for development without commenced construction works.
• Available area: total area available for immediate lease in existing buildings.
• Vacancy rate: percentage of unleased area available immediately in existing buildings. Calculated as the ratio of total vacant space available immediately for lease to existing stock.
• Rent: average asking rent in buildings with available space.
• Service charge: average asking service charge level in buildings with available space.
• Space availability change – Net take-up: total area of units leased by new tenants. Only transactions involving units that were available on the market are included. Renewals and extensions are not included unless the space was marketed.
• Space availability change – Vacated: total area reintroduced to the market in existing buildings. Applies to units that were previously occupied or unavailable. Does not include new offerings in buildings under construction or planned.
• New lease transactions: number of units leased to new tenants from available offerings.
• Time to Lease: median time for commercialization of units leased in the specified period. Time calculated from when the unit appeared on the market until withdrawal from it.